Asia

Despite Trump, Asian equities remain attractive

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Market optimism towards President Trump’s expectations of tax cuts, infrastructure spending, and deregulation could come under pressure should party infighting and opposition persist. Global equities rallied following his election on anticipation that a Republican controlled White House and Congress could flawlessly push forward a pro-growth agenda. Risky assets that have… Read More »



Jupiter comments on India’s Goods and Services Tax

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India’s Goods and Services Tax (GST) came into effect over the weekend. Notwithstanding the potential for short-term disruption, the medium to long term impact should be positive. India’s new Goods and Services Tax (GST) marks the next stage of the Modi administration’s plan for the modernisation and rationalisation of India’s… Read More »


Second Half Outlook for Asian Markets

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For Asian equity markets, we hold a constructive outlook for the second half of this year, as the political and economic environment is more conducive towards earnings growth and is generally less vulnerable to global volatility. Policies continue to coalesce around a pro-economic agenda, evident with supply side reforms in… Read More »


China, a haven of stability?

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China’s annual average GDP growth over the medium term (2018-2020) has just been revised up by the IMF – from 6.0% to 6.4%, on expectations of further increases in public and private debt. In a context of robust cyclical momentum, this year’s 19th Party Congress in early November will set… Read More »


Revisiting North Korea tail risks

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While we have increased moderately the probability of the tail risk scenario for North Korea (military conflict), it remains a low probability event. Still discovering a new geopolitical balanceGeopolitical tensions have once again sparked financial market volatility. The US and North Korea remain in irreconcilable positions as Pyongyang remains firmly… Read More »


Strong trade surplus will support GDP in Q1

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Mirabaud expects a positive surprise on Japanese GDP growth this quarter, with net exports likely to contribute positively, by around 0.6 percentage point. In February, the trade surplus increased markedly as export volumes (+11%) outpaced import volumes (-2%). The acceleration was broad-based, rising 7% to the US, 13% to Europe… Read More »


China is showing, at best, some signs of stabilization

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China’s outlook has the full attention of world markets. Last night saw the release of important economic data, including manufacturing PMI which came in higher than expectations at 51.3 in January versus 51.4 in December. As we know, a figure above 50 indicates expansion. This marks the sixth straight month… Read More »


China, downgrade by Moody’s, but the economy remains robust

Leo Hu -

Moody’s downgraded China’s long-term credit rating last week, after lowering its outlook on the country from stable to negative in March. As such, the rating downgrade was not a sudden development. This cut takes China’s rating from Aa3 to A1, and the outlook was changed back to stable. It was… Read More »


The Japanese Corporate Governance

Mitesh Patel -

For too long, poor corporate governance has held Japan back in the global race. But with shareholders beginning to speak up, and companies starting to listen, this could be set to change. As recently as 2013 nearly 600 of the 1400 largest listed companies in Japan had no outside directors… Read More »